Tech giant Apple has made commercial history, by becoming the first company to achieve a market-cap of $1 trillion.
The milestone was passed in the wake of sparkling third-quarter results published earlier this week that lightened the gloom hanging over the sector after disappointing figures from Facebook and Twitter.
Services are paying off
A number of factors have propelled Apple into this unique position.
Apple has branched out into offering services, such as AppleCare and Apply Pay. Here, third-quarter revenues soared 31% on the third quarter of last year to $9.548 billion.
That’s still some way behind the $24.452 billion earned by sales of the iPhone (a 20% rise on the same period last year) but comfortably ahead of sales of the iPad (down 5% on the same period last year at $4.949 billion) and the Mac computing range, down 5% on the same period last year at $5.592 billion.